Morning Report – March 24th, 2014.

Morning Report – March 24th, 2014

The stock indexes sent mixed messages on Friday. Volume was extremely heavy, and biotech stocks led the reversal to the downside, but there was strength in the Utilities, Materials and Energy sectors. The NASDAQ and NDX were weakest among the major market indexes, but small cap stocks held up relatively well. The candle on the NASDAQ shows a gap up, and then a complete reversal to close at 11.11% of its daily range, down 1.45% from its opening price. On the chart, the candle looks extremely negative, but the index is still well within its trading range, and until support is taken out on the close around the 4250 level, the Composite remains in neutral territory.

Many stocks and groups were immune from the selloff, but the biotech and solar stocks were not. The biotech stocks were down 4.2% as a group, with 103 decliners vs. 11 advancers. My Solar Related stocks group shows 15 decliners with 5 advancing stocks, although First Solar did well up 4.1%. First Solar is up from $54 to over $73 in 5 trading sessions. Read Full Report

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About the Author

Ron Brown is a highly experienced investor who has benefited from his experience in using the High Growth Stock Investor software to develop sensible processes to reduce the time to ferret for profitable stocks. Ron contributes many of the tutorials and weekly reports contained on this website, and contributes to the Woodward and Brown newsletter. Ron Brown Investments may be reached at Ron@HighGrowthStock.com.

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